Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
TRUMP token plummets 50%

TRUMP token plummets 50%

GrafaGrafa2025/01/20 05:30
By:Mahathir Bayena

The cryptocurrency market experienced significant volatility recently, particularly with the TRUMP (CRYPTO:TRUMP) token, which saw a dramatic drop of over 50% in value.

This decline coincided with the launch of a new meme coin by Melania Trump, marking a noteworthy event as it is the first time a president's family member has entered the meme coin arena.

Initially, Donald Trump's TRUMP token surged to become one of the largest cryptocurrencies, achieving a market capitalisation in the billions within just two days.

However, the excitement was short-lived as the token's value plummeted rapidly, losing substantial market cap.

Melania Trump's announcement of her own meme coin was shared on Donald Trump's official X account, indicating a strategic promotion.

Data from Dexscreener revealed that over 88% of Melania's coin supply is held by a single wallet, raising concerns about centralisation.

The launch of Melania's coin appears to have had immediate repercussions on the TRUMP token's value, which lost billions in market capitalisation shortly after her announcement.

The new MELANIA token quickly gained traction, reportedly reaching a market cap exceeding $4 billion within its first half-hour of trading.

Despite the initial hype surrounding both tokens, analysts are closely monitoring their performance and potential long-term implications for their respective values.

As the situation develops, it remains to be seen how these meme coins will impact the broader cryptocurrency landscape and whether they will stabilise or continue to fluctuate wildly.  

2

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!